I use 10% until I have the property inspected to determine the current condition and life expectancy of all major components and appliances.  

A MAJOR reason why most real estate investors fail is the inability to evaluate the numbers correctly and determine if a potential property is a good deal.

Auction.com auctions off Both as a trustee in “court house steps” foreclosure auctions And for reo’s already owned by a bank which is the majority of their listings.As for reo’s, you are typically getting “clear” title but do Not use their title co., the title insurance isn’t really free as they jack up other fees.  

But it's a fact that the market at the macro-level has a major correction about every 20 years or so.

The mortgage would cost you almost twice rents, then factor in vacancy/repair/capex reserves and you are majorly negative cash flow assuming you are financing with a typical down payment.

Looking into a Canadian triplex 30 minutes away from a major Canadian city.

Not the best, but better than each being an agent and principal for the other under a GP.The overwhelming majority of people use the LLC to hold property.

And majority of money back I had to put down for hard money and any reno cost?

It's not a major downturn yet but places are starting to sell for about 10% less then they were in 2016 and 217

I think it would really depend on your needs, there are probably places like this in the Midwest or even upstate, but you might want to look near a major airport if you need to fly in an out of the location often.